Towards New Fiscal Rules in the Euro Area?

Mathieu, Catherine; Sterdyniak, Henri

doi:10.1007/s10272-022-1022-0

Cited by 7 publications

(3 citation statements)

References 7 publications

(3 reference statements)

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“…The public expenditure rules have advantages and disadvantages, but for them to succeed, their implementation must be monitored by an independent budget committee. The recent work of Mathieu et al (2022) opposes those of Mitsi et Kottaridi (2022), who őnd that expenditure rules negatively affect foreign investment because these rules refer to őscal indiscipline. In our study, as a contribution to the literature, we will make the same estimates to see whether or not these results are conőrmed in our analysis.…”

Section: Introductionmentioning

confidence: 92%

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Fiscal Rules and Green Investments in Developing Countries

CREPIN

2023

Preprint

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This study highlights the effect of Fiscal Rules(FR) on Green Investments(GI) in developing countries. We analyze the causal effect of adopting rules on green financing using the entropy balancing method in 78 countries. Two hypotheses are tested in this study. The first one states that adopting Fiscal Rules increases green financing, and the second one is related to the ability of different types of rules to attract more investments to fight climate change. First, the results are robust and show that adopting Fiscal Rules increases climate finance. Unlike expenditure rules, deficit, debt, and revenue rules positively affect green financing. The effect of Fiscal Rules on green finance is amplified in countries with strong economic performance, high levels of democracy, good- quality institutions, and a well-functioning state apparatus. On the other hand, the effect of the rules is mitigated in the presence of high natural resource rents. JEL Classification : E60 ; E62 ; Q5

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Section: Introductionmentioning

confidence: 92%

“…Beetsma (2022) warns that excluding green investments from the caps could increase the risk of "greenwashing ." Mathieu et al (2022) also analyze the possibilities of reforming the current őscal rules to favor green investments. They suggest replacing the current rules with a single rule, the public expenditure rule.…”

Section: Introductionmentioning

confidence: 99%

Fiscal Rules and Green Investments in Developing Countries

CREPIN

2023

Preprint

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“…24 Even though there was a mutual understanding that rules should be flexible, the fact that the flexibility was introduced through the enforcement process characterised the rules by political compromises. 25 Enforcement proved to be dependent more on political decisions than a straightforward application of the rules. 26 Consequently, Member States were never too worried about being fully compliant with the criteria.…”

Section: What Happened To the Enforcement Of The Criteria?mentioning

confidence: 99%

The long-lasting post-covid symptom: The case for the EU fiscal rules reform?

Babin¹,

Ivanov²,

Erić³

2022

Pravni zapisi

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The paper investigates compliance with the EU fiscal rules in the period 1992-2020. The EU fiscal rules are prescribed as guidelines and represent a typical example of the soft law approach. The negative impact of the soft law approach is more visible after the periods of economic crisis (2008-2009; 2020-2022). The non-compliance with the prescribed ceilings on the level of the budgetary deficit and public debt create instability and various adverse economic effects. In the paper it is shown that existing rules are not adequate for the job they were made for. It is shown that the design and enforcement of the rules are poor, and that actually the European Commission, the watchdog, is in fact a toothless dog. The goal of the paper is to present potential reform alternatives with the aim to contribute to the reestablishment of the sound fiscal framework in the EU. The paper is concluded with the proposal of a completely new approach for the fiscal rules reform - Growth-Enhancement Fiscal Policy Switch (GEFPS).

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Co-movements Between Bitcoin and Gold: Multivariate BEKK-GARCH Models

Ojaghlou

2024

Studies in Computational Intelligence

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Towards New Fiscal Rules in the Euro Area?

Abstract: Faced with the impossibility of reaching a political agreement to review the fiscal treaties, the Commission could limit itself to applying the current rules with flexibility, which would maintain an ambiguous situation: much ado about nothing.

Cited by 7 publications

References 7 publications

Fiscal Rules and Green Investments in Developing Countries

Fiscal Rules and Green Investments in Developing Countries

The long-lasting post-covid symptom: The case for the EU fiscal rules reform?

Co-movements Between Bitcoin and Gold: Multivariate BEKK-GARCH Models

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